Employee To Entrepreneur: 7 Steps To Succeed
Have been employed for a few years now but not satisfied with your job despite having a regular income, job security, benefits and a reassured future? Are you plagued with the urge to do something more with your life, like starting a new business? Is your answer a yes? Then you have the capacity to be an entrepreneur. There are two easy steps that can help you to become an entrepreneur:
1. Quit Your Job
2. Start Your Business.
While the first step is easy to do, but the second step is a tad bit more difficult. To start your business and have a smooth transition, it requires you to have
- Precise planning
- Understanding your entrepreneurial goals
- The confidence that you can achieve your goals as an entrepreneur
The journey from employee to entrepreneur will have challenges and deciding on how to go about the business can be difficult. Mainly with most businesses focussing on becoming digital so they can get more traffic, while the freedom to work from anywhere and anytime. Digital Marketing is the new game-changer in the world of business, so to be a successful entrepreneur be a part of this new world and think of becoming a digital entrepreneur. The idea of becoming a digital entrepreneur is quite lucrative for quite a few reasons, which we will discuss in our next blog. In this blog, we will look into 7 Steps that you can imbibe to become a successful digital entrepreneur.
7 Steps To Become Employee to Entrepreneur
1. Reconnect With Who You Are: If you have been working in the corporate world for a while now, you are used to be disconnected from the little pleasures and activities that gave meaning and joy to your life. You are now used to listen to the management’s decision rather than voice your own opinion. To start your journey as a (digital) entrepreneur, it is vital that you ask yourself some valuable questions like:
- What are my principles and values?
- What motivates me?
- What success means to me?
- What are the activities that I enjoy?
- What are the things that I am most complimented on?
- What is the legacy that I want to leave behind?
- What is my passion (an activity that I can do for hours without getting bored)?
- What would I want to do with the time and money I had and knew I would not fail?
All the answers to these questions will help you to move to your next steps.
2. Self-Knowledge to Business Ideas: You can start forming business ideas from the ideas of self-knowledge, purpose, and passion. Often entrepreneurs conceive their business ideas from their pain points that they are or have experienced. By finding a way to solve those problems, you can come up with an innovative idea. This idea that can fill the specific gap that is present in the market. Since the business idea is driven from your passion, you will have a personal connection to it and not get bored while working on it during your free time.
3. Research, Test and Hustle: Now start researching about your project, reach out to people who are experts in the field you want to start your business in. With every business going online start testing your ideas with likeminded people who are flooding the online community. They can help you to build a digital roadmap for your business. Check online if your business requires you to have any additional certification courses or education. In case you are required to start the courses and finish them before you take the plunge. Lastly, start a side hustle. This can help you to get a foot in the door while you still have the job security.
4. The Target Market: Decide on the market that your (digital) business will cater to. Deciding on the target market is crucial. Go to the internet and see how your business will fair among your target audience, how crowded the field is, and how your competitors are working and promoting their services. Learn about how to use SEO to move ahead of your competitors and work on lead generation.
5. The Escape Plan: Once you have started the side hustle start on your financial analysis. At this stage, you should be able to figure out the funding your new venture would require. Also, it is vital that you keep considerable money aside for the rainy day until your business can sustain itself. You also have to decide on the structure of your business, get a name for it and register. Think about the location, whether you can run the business from home since you want to be a digital entrepreneur or you need a physical office. If you need an office where would you want it to be located to get the maximum business? Also, put together a timeline and fulfil that. You need to stay focused and hold yourself accountable. Finally, plan a downtime between the corporate job and starting your entrepreneurial journey.
6. The Leap of Faith: This step is one of the scariest ones, the plunge. Nothing prepares you to leave the security of a job and to jump into unknown territory. But do not let the fear prevent you from making that jump. It is a leap of faith, and there is no right team to take the step, so when you reach your deadline, do not look back but take the leap of faith. Be confident to become a digital entrepreneur and have confidence in your digital strategy that you have developed for your business.
7. Hire a Coach: This might sound a bit expensive when you can get all the information that you need online. But becoming a (digital) entrepreneur can be challenging and a road that is paved with lots of hardships, hurdles and difficulties. A (digital) entrepreneurial coach is someone who is not only experienced in the field of digital marketing but is a successful digital entrepreneur himself/herself. A digital entrepreneur coach like Hemi Hossain will be able to guide you in how to design a digital roadmap, give you the digital strategy so you can succeed in your digital entrepreneurial journey.
To change your life from an employee to digital entrepreneur, it is crucial that you prep yourself as much as possible, know about the ways that you can build your business, the digital marketing terminologies like SEO, Lead Generation, Social Media Marketing, Blogging, etc. Develop a mindset of an entrepreneur and owner rather than that of an employee. Then when you are confident, and you meet your deadline, take the leap of faith.